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Peloton draws interest from potential suitors including Amazon

by Mike Robinson

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© Reuters. FILE PHOTO – A Peloton bike can be seen following the ringing the opening bell at Nasdaq Market in New York City. This was September 26th, 2019. REUTERS/Shannon Stapleton

(Reuters) – Peloton Interactive Inc, (NASDAQ:) Inc attracts interest from potential suitors such as Amazon.com Inc (NASDAQ.) Friday’s Wall Street Journal report cited people who are familiar with this matter.

In extended trading, the shares of this maker of at-home exercise bikes jumped 40% on Friday.

Blackwells Capital an activist investor, called for the Peloton Interactive board to remove John Foley as Chief Executive Officer and offer the company for sale.

Reuters asked for comment from Peloton but neither Amazon nor Peloton responded immediately.

Peloton has seen its value plummet to $20 billion since November when the company hinted at a slowing in demand for treadmills and exercise bikes.

The report claims that Amazon is in talks with advisers to discuss a possible deal. The report said however that it is not certain Amazon would make an offer, or that Peloton will be open to the idea.

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